Profit-taking, external pessimism drag Russian stocks downwards

MOSCOW, Jan 19 (PRIME) -- The Russian stock market finished the day in the negative territory on Thursday as investors were taking profit in most of the shares amid a discouraging external background, analysts said.

The MOEX Russia Index fell 1.25% to 2,168.83 and the RTS decreased 1.32% to 993.08.

“The Russian stock market stayed in the negative territory on Thursday evening as it had been pressured by profit-taking in most of the shares, and offshore sales,” Veles Broker analyst Yelena Kozhukhova said.

She also that foreign stock exchanges demonstrated short-term downward correction in light of mounting concerns about the future of the U.S. economy.

The nearest Brent oil price futures on the contrary reversed to growth in the evening, adding around 1% to return to the resistance line of U.S. $86.5 per barrel, Kozhukhova added.

PSB Bank senior analyst Yegor Zhilnikov said that local stocks were pressured by the decreasing global appetite for risk and the upcoming imposition of the price cap on Russian oil products.

He added that the metallurgical, the financial and the energy sectors with their leaders oil company Surgutneftegas, top bank Sberbank, aluminum producer RUSAL and diamond miner ALROSA were among the worst performers.

Below are the MOEX Russia Index’s five most active stocks on Thursday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.37	149.4	8.406
Gazprom	-0.73	160.99	2.320
Rusolovo	+13.12	0.8999	1.884
ALROSA	-2.45	60.17	1.603
Lukoil	-0.85	3987	1.511

(68.8728 rubles – U.S. $1)

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